News and Press Releases

Long-Term Charter Agreements Concluded with Rio Tinto

December 18, 2009 - Kawasaki Kisen Kaisha, Ltd. (hereafter called "K" ) concluded two long-term charter agreements for capesize bulk carriers with Rio Tinto.

Outline of the Agreement

  1. 5-year long-term charter agreement using one capesize bulk carrier from 2011.
  2. 15-year long-term charter agreement using one capesize bulk carrier from 2011.

Annual volume shipped: About 3 million tons

Rio Tinto is one of the world's leading mining companies. Rio Tinto was planning to increase its exports of iron ore, with a focus on exports to China, while "K" Line was seeking to secure a stable source of revenues for its charter business. The two companies have thus recently agreed to sign two new contracts, in order to form a strong, long-term strategic partnership.

Rio Tinto's exports of iron ore are expected to continue to grow, and these agreements will give "K" Line an important role in this growth, by providing reliable shipping services over the long term.

For further information, please contact:

Kawasaki Kisen Kaisha, Ltd. ("K" Line):

Atsuo Asano
General Manager, Coal & Iron Ore Carrier Group
Tel: +81-(0)3-3595-5390

Michitomo Iwashita
Manager, Coal & Iron Ore Team No.1 of Coal & Iron Ore Carrier Group
Tel: +81-(0)3-3595-5406